Melton Mowbray Building Society Conveyancing Panel Information

Unlike the CML the Building Society Mortgage Instructions deal with this. Section A.12 states ‘In order to act on our behalf your firm or company must be a member of our conveyancing panel provided we are a society that operates one – see specific requirements for details of our arrangements. The Special Requirements state:

You must also comply with the terms and conditions of your Melton Mowbray Building Society solicitor panel appointment.

The fact of the matter is that estate agents will be suffering if their clients start out on the buying process using a solicitor who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors lawyers.

The Building Society Association introduced it’s Mortgage Instructions in 2010 to ensure that licensed conveyancers or solicitors on a building society conveyancing panel had full access to a complete set of standardised mortgage instructions.

During this period 3 sections of the BSA Mortgage Instructions were changed by Melton Mowbray Building Society. Some changes are more important than others but as a firm on the Melton Mowbray Building Society conveyancing panel you are of course obliged to comply with individual lender requirements. Locktons have recently pointed out in an article that non-compliance with lender requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: BSA requirements are not guidelines; they are the lender client’s instructions.

Participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. The days of open panels are now long gone. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the Melton Mowbray Building Society conveyancing panel to see if you are entitled to a reason.

You have a number of obligations in this regard which you need to follow if you wish to comply with your lender client’s instructions as set out in the BSA Mortgage Instructions. (I) You must take reasonable steps to verify that there are no discrepancies between the description of the property as compared to an address that is no longer valid.

With mortgage companies and conveyancing firms working so closely together it is surprising that there has not been much call for the introduction of a bit of transparency regarding not just the figures for the Melton Mowbray Building Society conveyancing panel but for all bank panels

BSA lenders do not come within the top 20 lenders in terms of frequency of questions. The most popular lender panels in terms of questions are as follows:

• Santander Conveyancing Panel
• National Westminster Bank Conveyancing Panel
• Royal Bank of Scotland Conveyancing Panel
• HSBC Conveyancing Panel
• Lloyds Conveyancing Panel